Transcription

1

2

3

4

5

6

7

8

9

10

11

12

13 BPTP LIMITED Application for the provisional allotment of a Residential Plot at Sector 102, Gurgaon, Haryana. Application No... Dated... BPTP Ltd. M-11, Middle Circle, Connaught Circus, New Delhi Dear Sirs, I...Son of....resident of wish to register my interest for the provisional allotment of a Residential Plot tentatively admeasuring sq.ft. ( sq. mtrs.) in your Township being developed at Sector-102, Gurgaon, Haryana under your Down Payment [ ] Construction Linked Payment Plan [ ] Scheme. I herewith tender a sum of Rs. (Rupees only) by Bank Draft/Cheque dated.as booking amount, the details of which are mentioned in the Schedule attached hereto. I understand and agree that this application is a mere request for allotment and the same does not constitute or create any right, title or interest whatsoever in my favour in respect of the Residential Plot applied for notwithstanding the fact that the Company may have issued a receipt in acknowledgement of the money tendered with this application. In the event Residential Plot is allotted to me, I agree to pay all installments and all other dues, charges and taxes including any fresh incidence of tax in terms of the Payment Plan, as stipulated in this application or as may be demanded by the Company in future. I understand and agree that the allotment shall become final only after l sign and execute the necessary documents/affidavit including the Company s Standard Plot Buyer's Agreement and unequivocally agreeing to abide by the terms and conditions laid down therein. I confirm and undertake that upon acceptance of my payment by the company and allotment of the Residential Plot, I shall be bound to purchase the same and will execute all the necessary documents, affidavits, including Standard Plot Buyer's Agreement as stated herein. If, however, I fail to execute the necessary documents/affidavits including Standard Plot Buyer's Agreement within the stipulated time from the date of offer of allotment by the Company, then this Application shall be treated as cancelled only at the sole discretion of the Company. l am making this application with the full knowledge that the Company along with its associate companies are in the process of developing the said township and shall make the allotment of the Residential Plot in due course of time, subject to availability. I agree to the allotment of the Residential Plot by lottery/draw of lots to be conducted by the Company. I agree and undertake to abide by the terms and conditions of this application including those relating to payment of sale price and other charges, forfeiture of the earnest money and deduction of any interest amount, due or payable, and/or any other amount of non-refundable nature, as laid down hereinafter. # The reference in this application form to the singular i.e I/Me/My includes the plural i.e We /Our/Us in case of more than one Applicant. (* fields are mandatory. It is mandatory for each applicant to sign each page. Incomplete form shall be liable for rejection by the company at its sole discretion at any stage) Signature of the Customer

14 1 SOLE OR FIRST APPLICANT(S) *Mr./Mrs./Ms. *S/W/D/o *Nationality *Age years, Profession Service Residential Status: *Resident/NRI/PIO *Income Tax Permanent Account No. Ward/Circle/Special range and place where assessed to income tax *Mailing Address: PIN Tel No. Fax No. Office Name & Address PIN Tel.Nos. ID: Mobile : 2 SECOND APPLICANT(S) *Mr./Mrs./Ms. *S/W/D/o *Nationality *Age years, Profession Service Residential Status: *Resident/ NRI/ PIO *Income Tax Permanent Account No. Ward/Circle/Special range and place where assessed to income tax Signature of the Customer

15 *Mailing Address: PIN *Tel No. Fax No. Office Name & Address PIN Tel.Nos. * ID: Mobile : 3 THIRD APPLICANT(S) *Mr./Mrs./Ms. *S/W/D/o *Nationality *Age years, Profession Service Residential Status: *Resident/NRI/PIO *Income Tax Permanent Account No. Ward/Circle/Special range and place where assessed to income tax *Mailing Address: PIN *Tel No. Fax No. Office Name & Address PIN Signature of the Customer

16 Tel.Nos. ID: Mobile : (For additional Applicant use separate sheet) 4 Residential Plot at Sector 102, Gurgaon, Haryana DETAILS OF PLOT Plot No., Block No. Area: sq.mtr. (approx) sq.yds.(approx.) A. Basic Sale Price Rs. per sq. mtr ( per sq. yds.) * B. Development Charge (DC) Rs. per sq. ft. C. Any other Charges : Rs. /- D. Any other Charges : Rs. /- **E. Preferential Location Charges(PLC): i. Cluster Park Facing 15% of BSP. Rs. /- ii. Park Facing/ Adjoining Park: 10 % of BSP. Rs. /- iii. Corner: 10% of BSP. Rs. /- iv. Two Side Open: 10 % of BSP. Rs. /- v. Roads 18 Mtrs wide and above: 10% of BSP. Rs. /- vi. Roads 15 to 17 Mtrs wide: 5% of BSP. Rs. /- *Development Charges or DC shall mean the amount charged by the Company from the Applicant(s) towards the payment of External Development Charges (EDC) and Infrastructure Development Charges (IDC) as presently charged by the HUDA, DTCP or the Government of Haryana and cost of such other development works as may be undertaken by the Company within the Colony which are not charged specifically anywhere else. The final amount of Development Charge shall be determined upon finalization of EDC by the Government ** PLC shall be applicable and payable by the Applicant (s) for the sum total of each and every applicable charge mentioned above, in addition to BSP. However, the sum total of all PLC shall not be more than 30% of BSP. 5 PAYMENT PLAN: DOWN PAYMENT PLAN [ ] / CONSTRUCTION LINKED PAYMENT PLAN [ ] Note:- Payments to be made by A/c Payee Cheque(s) / Demand Draft(s) in favour of BPTP Ltd., payable at New Delhi / Delhi only. Signature of the Customer

17 On Booking Within 45 days of booking Within 105 days of booking Within 180 days of booking Commencement Perimeter Fencing Payment Plan 10% of BSP 10% of BSP 15% of BSP 15% of BSP 25% of DC + 50% of PLC 15% of BSP 25% of DC + 50% of PLC Commencement of Laying of water / sewer lines 10% of BSP 25% of DC +50% of CMC Commencement of Laying of roads 10% of BSP 25% of DC +50% of CMC Commencement of electrical infrastructure work 10% of BSP 100% of PBIC Allied Charges On offer of possession 5% of BSP 100% of Possesion Charge Note: The sequence of demand in the above mentioned payment plan may change subject to development on site. All the above payments shall be made on the commencement of the respective work in the colony. Down Payment Plan (with 10% rebate) On Booking Within 45 days of booking On offer of possession 10% of BSP 85% of BSP 5% of BSP 100% of (DC+PLC+CMC+PBIC) 100% of Possession Charge Allied Charges: DC: Development Charges PLC: Preferential Location Charges CMC: Club Membership Charges PBIC: Power Backup Installation Charges Possesion Charge. Signature of the Customer

18 *Possesion Charge includes: IFMS (Interest Free Maintanence Security), UCC (Utlity Connection Charges), MS (Maintanence Security), SF (Sinking Fund), CD (Contigenecy Deposit) Signature of the Customer

19 6 Sales Organiser's Name, Address and date of booking: : 7 DECLARATION: I the applicant(s) do hereby declare that my application for allotment of a Residential Plot with the Company is irrevocable and that the above particulars / information given by me are true and correct and nothing has been concealed there from. I hereby confirm and undertake that I have read and understood the terms and conditions as mentioned hereinafter which has been duly signed by me and further undertake to abide by the same. Date Yours Faithfully, Place: x Signature of Applicant(s) Signature of the Customer

20 FOR OFFICE USE ONLY RECEIVING OFFICER: Name Signature Date of receipt of booking form with cheque : 1. ACCEPTED / REJECTED Plot No., Block No. Area: sq.mtr. (Approx.) sq.yds.(approx.) 2. Basic Sale Price Rs. per sq. mtr ( per sq. yds.) Preferential location Charges, If applicable: Rs. per sq. yd. of the plot area. (Capped with 30% of BSP) Note: All the payments towards Development Charges, Preferential Location charges (for superior location, park facing, corner plot, plot over & above 12mtr. Wide road etc.), Maintenance Charges, Service Tax and any other statutory charges or any fresh incidence of tax, if any, shall be payable by the Applicant(s) as and when demanded by the Company or its designated maintenance agency for the said Housing Complex. 3. Stamp duty and registration charges etc. shall be extra at actuals and to be borne by the Applicant(s). 4. PAYMENT PLAN: Down Payment [ ] / Construction Linked Plan [ ] 5. Payment received vide Cheque/DD/Pay Order No. Dtd for Rs. out of NRE / NRO/ FC/ SB /CUR/ CA Acct 6. Provisional booking receipt no. dated 7. Remarks: Date: Place: Authorized Signatory Cleared by Stock on Signature Signature of the Customer

21 BROAD TERMS AND CONDITIONS FOR PROVISIONAL ALLOTMENT OF RESIDENTIAL PLOT IN BPTP LTD S (THE COMPANY) TOWNSHIP AT SECTOR 1 0 2, GURGAON, HARYANA 1) The terms and conditions given below are only indicative to acquaint the Applicant with the terms and conditions as will be comprehensively set out in the Standard Plot Buyer s Agreement. 2) The Applicant has made this application for provisional allotment of a Residential Plot in the Township with full knowledge of and subject to all the laws/notifications and rules applicable to this area in general and this Township in particular, which have been explained by the Company and understood by him/her. 3) The Applicant(s) shall execute the Standard Plot Buyer s Agreement with the Company, within 15 days from the date of communication as and when issued by the Company along with the affidavits, declarations and undertakings contained therein and compliance of the terms and conditions of the Standard Plot Buyer s Agreement 4) The Applicant(s) acknowledges that he has inspected the relevant documents/papers and is fully satisfied with the right and interest of the Company in the land, on which the Township is being developed and has understood all limitations and obligations in respect thereof. The Applicant(s) states and undertakes n o t t o r a i s e objections with respect to the Company s title/interest in the land. 5) The Applicant(s) agrees and undertakes to make payment of Basic Sale Price, Development Charges, Preferential Location Charges (for superior location, park facing, corner plot, plot over & above 12mtr. Wide road etc.), IFMS, ECC, FFC, UCC, Service Tax, VAT, Maintenance Charges, and all other charges as may be communicated from time to time. The Applicant(s) further agrees and undertakes to pay any enhanced External Development Charges (EDC and Infrastructure Development Charges(IDC), or any tax/charges including any Fresh Incidence of Tax as maybe levied by the Government of Haryana/Competent Authority/ Central Government, even if it is retrospective in effect. As mentioned in the application form. 6) The Applicant understands and agrees that the allotment of Plot shall be made a t t h e s o l e d e s c r i t i o n of the Company. Some Plot(s) in the Township attract preferential location charges as specified in the Schedule of Payment. The Applicant agrees and undertakes to pay the Preferential Location Charges without any demur or protest, should a Plot inviting such charges be allotted to him / her. 7) The Applicant(s) understands and agrees that the computation of the total consideration of the R e s i d e n t i a l P l o t does not include any recovery or payments towards land, development, running and operation of common amenities and facilities like convenience store or any other conveniences, community buildings/sites, other recreational and sporting activities, if any, as well as recovery of payment towards maintenance charges of any kind by the Company from the Applicant(s) in any manner. Further, the Applicant fully understands that the Company is free to deal with community buildings/sites in any manner as the Company may deem fit. As regards payment of maintenance charges, the Applicant(s) shall enter into a separate maintenance agreement with an agency designated by the Company or association of Plot Allottee(s), as the case may be, and shall make payment of such maintenance charges. 8) The Applicant shall bear and pay directly, or if paid by the Company, then reimburse to the Company, on demand, Government rates, taxes, cesses, charges, Service Tax, VAT, wealth tax, taxes of all and any kind by whatever name called, levy of proportionate development charges with regard to state/national highways, transport, irrigation facilities and power facilities etc, whether levied or leviable now or in future, on the Township as the case may be, as assessable/applicable from the date of application of the Applicant(s). If such charges are increased (including with retrospective effect) after the conveyance/sale deed has been executed, then these charges shall be treated as unpaid sale price of the R e s i d e n tial P lot and the Company shall have lien on the P lot of the Applicant(s) for the recovery of such charges. 9) That the Applicant(s) understands and agrees that the final amount of Development Charge shall be determined by the Company upon finalization of EDC including interest / penal interest by the Government and shall include all such other charges / interests as may be demanded by the Government whether with Signature of the Customer

22 immediate effect or retrospectively and shall be an integral part of the sale consideration payable by the purchaser. 10) Out of the amount(s) paid/payable by the Applicant(s) towards the total sales consideration, the Company shall treat 25% (Twenty Five percent) of the total sale consideration as earnest money ( Earnest Money ) to ensure fulfillment, by the Applicant of the terms and conditions as contained herein and as may be contained in the Buyer s Agreement. Timely payment of each installment of the total sale consideration i.e. basic sale price and other charges as stated herein is the essence of this transaction/ agreement. In case payment of any installment as may be specified is delayed, then the Applicant(s) shall pay interest on the amount 18% p.a. compounded at the time of every succeeding installment or three months, whichever is earlier. However, if the Applicant(s) fails to pay any of the installments with interest within three (3) months from the due date of the outstanding amount, the Company may at its sole option forfeit the amount of Earnest Money and other charges including late payment charges and interest deposited by the Applicant(s) and in such an event the Allotment shall stand cancelled and the Applicant(s) shall be left with no right, lien or interest on the said Plot and the Company shall have the right to sell the said Plot to any other person. Further the company shall also be entitled to terminate/cancel this allotment in the event of defaults of any terms and conditions of this application. 11) The Applicant(s) understands and agrees that in case the full / complete booking amount is not received by the company, the provisional booking made shall be treated as invalid and cancelled and the company shall refund the partial booking amount received to the Applicant(s) without any interest after deducting the processing fee of Rs.25,000/-.The Applicant(s) agrees and undertakes that he shall not raise any claim, objection, protest or demur against the cancellation of the Application for provisional booking / registration of the Residential Plot. 12) The Applicant(s), only after payment of the 10% of basic sale price, shall get 5% rebate on basic sale price on timely payment of each subsequent installment and the rebate shall be credited in the account of the Applicant(s) simultaneously by the Company. The Applicant(s) understands and agrees that the rebate of 5% given by the Company to the Applicant(s), subject to the Applicant(s) making timely payment of each installment, is restricted to the amount of basic sale price of each installment and the said rebate would not construe and mean rebate against the total sale consideration. The Applicant(s) understands and agrees that the offer of rebate of 5% on timely payment of each installment is at the sole discretion of the Company which can be withdrawn by the Company at any point of time without assigning any reason whatsoever. The Applicant(s) further understands and agrees that the present offer of rebate will not apply and cover other charges which are liable to be paid by the Applicant(s). 13) Should the Applicant(s) choose to cancel the Application of provisional allotment/buyer s Agreement or booking or surrender the Residential Plot allotted to him/her/it or is in breach of any terms & conditions specified herein due to default of the Applicant including but not limited to send the duly signed copy of Buyer s Agreement within 30 days of receipt of the same, the Company will be released and discharged of all liabilities and obligations qua the Applicant and the Company at any stage shall have the right to resell the Plot to any third party or deal with the same in any other manner as the Company may in its sole discretion deem fit as if this Application for Provisional Allotment or Buyer s Agreement had never been executed. On happening of such event, the Company will refund to the Applicant the amount paid by the Applicant, without any interest after deducting the Earnest Money along-with interest, any other forfeitable amount including brokerage paid, if any within 120 days. The Applicant (s) agrees that in case of such cancellation all refund shall be made only after realization of such refundable amount on further sale/resale of the P l o t to any other party. 14) That the applicant is aware that the company is in the process of acquireing further land in Sector 102, Gurgaon and the company shall be having sole and absolute right to make allotment on such plots once the layout plan of such additional land is approved by the competent authority. 15) The Company shall have the right to effect suitable necessary alterations in the layout plan of the Township, if and when found necessary, which alterations may involve all or any of the following changes, namely change in the position of Plot, change in the no. of the Plot/or change in its dimensions or change in its area and to implement any or all of the above changes, supplementary agreement(s), if necessary, will be executed. If there is any increase/decrease in the area, the rate per sq. ft. and other charges will be applicable to the changed area i.e. at the same rate at which the Plot was booked and as a consequence of such reduction Signature of the Customer

23 or increase in the area, the Company shall be liable to refund to the Applicant without interest, only the extra price and other proportionate charges recovered or shall be entitled to recover from the Applicant(s), the additional price and other proportionate charges without interest, as the case may be. 16) If as a result of any legislation, order or rule or regulation made or issued by the Government, or any other authority or if the competent authority refuses, delays, withholds, delays or denies the grant of necessary approvals for the Township, permissions, notices, notifications by the competent authority(ies) becomes the subject matter of any suit/writ before a competent Court and the Company voluntarily decides to abandon, after the provisional/final allotment, is unable to deliver the P l o t, the Applicant confirms that the Company may refund all amounts received by it from the Applicant without any interest or compensation whatsoever. The Applicant shall not raise any dispute or claim whatsoever in this regard. 17) The Company shall make all efforts to handover possession of the R e s i d e n t i a l P l o t within Thirty (30) months from the date of execution of the Plot Buyer s Agreement, subject to Clause 27 and certain limitations as may be provided in the Buyer s Agreement and timely compliance of the provisions of the Buyer s Agreement by the Applicant(s). The Applicant agrees and understands that the Company shall be entitled to a grace period of One Eighty (180) days over and above the period more particularly specified here-inabove, for applying and obtaining necessary approvals in respect of the Township. 18) That any amount paid by the Applicant(s) shall first be adjusted towards earlier outstanding payments such as unpaid or partly paid instalments, interest or other outstanding amounts, if any 19) In order to secure adequate provision of maintenance services the association/society of the allottee(s) of Plot, the Company shall appoint/nominate a maintenance agency ( Maintenance Agency ) to provide services as may be required to maintain upkeep, security etc. of the Township. The Applicant(s) agrees to bear the charges of such Maintenance Agency. Further, the Applicant(s) hereby undertakes to deposit with the Company, as per the Schedule of Payment, and to always keep deposited with the said association/society/maintenance Agency, as the case may be, as Interest Free Maintenance Security ( IFMS ). 20) Further, the Applicant(s), undertakes to enter into a maintenance agreement with the said association/society/maintenance Agency. The Applicant(s) undertakes to pay the maintenance bills monthly/quarterly, as raised by the said association/society/maintenance Agency. 21) The Applicant(s) shall pay, as and when demanded by the Company, the stamp duty, registration charges and all other incidental and legal expenses for execution and registration of the conveyance/sale deed of the R e s i d e n t i a l P l o t in favour of the Applicant(s), which shall be executed and got registered upon receipt of the full sale price, other dues and the said charges and expenses as may be payable or demanded from the Applicant(s) in respect of the P l o t. The Applicant(s) undertakes to execute the sale deed within 30 (thirty) days from the date of the Company intimating in writing about the s a m e failing which the Applicant(s) authorizes the Company to cancel the allotment and forfeit the Earnest Money, delayed payment interest etc. and refund the balance price paid by the Allottee(s) without any interest upon realization of money from resale/re-allotment to any other party. 22) Time is the essence with respect to the Applicant s obligations to pay the sale price as provided in the Payment Plan along with other payments such as applicable stamp duty, registration fee and other charges that will be more specifically stipulated in the Buyer s Agreement, to be paid on or before due date or as and when demanded by the Company, as the case may be, and also to perform or observe all the other obligations of the Applicant under the Buyer s Agreement, 23) It is made abundantly clear that in respect of all remittances related to acquisition/transfer of the Plot, it shall be the sole responsibility of non resident/foreign national of Indian origin to comply with the provisions of Foreign Exchange Management Act, 1999 ( FEMA ) or statutory enactments or amendments thereof and the rules and regulations of the Reserve Bank of India or any other applicable law and provide the Company with such permissions, approvals, etc., which would enable the Company to fulfill its obligations under the Buyer s Agreement. Any refund, transfer of security, if provided in terms of the Buyer s Agreement, shall be made in accordance with the provisions of FEMA or statutory enactments or amendments thereof and the rules and regulations of the Reserve Bank of India or any other applicable law. In the event of any failure on Signature of the Customer

24 the Applicant s part to comply with the prevailing exchange control guidelines issued by the Reserve Bank of India, he shall be solely liable for any action that may be taken by the competent authorities in this regard. The Company accepts no responsibility in this regard and the Applicant shall keep the Company fully indemnified for any harm or injury caused to it for any reason whatsoever in this regard. Whenever there is a change in the residential status of the Applicant(s), subsequent to the signing of this application for EOI, it shall be the sole responsibility of the Applicant to intimate the same in writing to the company immediately and comply with all the necessary formalities, if any, under the applicable laws. 24) The Company shall not be responsible towards any third party making payment/remittances on behalf of the Applicant(s) and such third party shall not have right in the application/allotment of the said P l o t applied for herein in any way. The Company shall issue receipts for payment in favor of the Applicant(s) only. 25) The Applicant(s) understands and confirms that the allotment of the Plot made shall not be construed as sale or transfer under any applicable law and the title to the Plot hereby allotted shall be conveyed and transferred to the Applicant(s) only upon his fully discharging all the obligations undertaken by the Applicant(s) including payment of the entire sale consideration and other applicable charges/dues and only upon registration of the Conveyance/Sale deed in his favour. 26) The Applicant(s) understand and agree that Transfer of the Plot shall be at the sole discretion of the Company. The Applicant further understands that the Company shall not entertain any transfer / nomination request till the Applicant(s) has paid at least 30% of total sale consideration to the Company. It is further agreed that the transfer / nomination of Plot where the entire payment in terms of the Schedule of Payment has been received by the Company, shall be allowed only through execution of Conveyance Deed / Sale Deed on payment of an administrative fee, as charged by the Company for effecting changes/entries in its records. It is understood by the Applicant(s) that the Company shall not Charge any administrative fee towards the first transfer/nomination. 27) The provisional allotment of the Residential Plot as well as the allotment thereafter of the Plot shall be subject to force majeure conditions of or any other reason beyond the reasonable control of the Company. If there is any delay in the delivery of possession of the Plot the Company is unable to deliver possession of the Plot due to a Force Majeure event or due to any notice, order, rule or notification of the Central or State Government and/or any other public or competent authority or for any other reason beyond the control of the Company, shall be entitled to a reasonable extension of the time for delivery of possession of the P l o t. The Applicant(s) understands and acknowledges that if due to any force majeure conditions, the whole or part of the Township is abandoned or abnormally delayed, the Applicant(s) shall not be entitled to prefer any claim whatsoever except that the Company shall on demand refund the Applicant s money without any interest or compensation whatsoever. 28) In case of joint Applicant(s), all communication shall be sent to the Applicant(s), whose name appears first and all the addresses given by him, which shall for the purposes be considered as served on all the applicants and no separate communication shall be necessary to the other named Applicant(s). 29) The Applicant(s) shall inform the Company in writing of any change in the mailing address mentioned in failing which all demands, notices etc. by the Company shall be mailed to the address given in the application and shall be deemed to have been received by the Applicant(s). 30) The Company, at its sole discretion, may decide not to allot any or all Plot(s) to anybody or altogether decide to put at abeyance, the Township itself for which the Applicant(s) shall not raise any dispute or claim any right, title or interest on the acceptance of the application and receipt of initial token/booking money being received by the Company with the application from the Applicant(s). Further, the provisional and/or final allotment of the P l o t is entirely at the discretion of the Company and the Company has a right to reject any provisional and/or final allotment without assigning any reasons for the same 31) The Applicant(s) understands and confirms that the allotment of the P l o t made shall not be construed as sale or transfer under any applicable law and the title to the P l o t hereby allotted shall be conveyed and transferred to the Applicant(s) only upon his fully discharging all the obligations undertaken by the Applicant(s) including payment of the total sale consideration and other applicable charges/dues, as mentioned herein or in the Buyer s Agreement and only upon the registration of the conveyance/sale deed in his favour. Signature of the Customer

25 32) The Applicant(s) should correctly mention his/her Permanent Account Number (PAN) in the Application form, if the same is not provided then the Application may be summarily rejected. The application form should be signed by the person(s), or his/her Registered Power of Attorney, who want(s) to get the Plot under the Township. Similarly, in the case of Company applying for the Plot(s), should sign through authorized personnel enclosing an authority letter/board resolution. 33) The terms and conditions mentioned herein shall be in addition to the terms and conditions of the Buyer s Agreement. However, in case of any contradiction between the terms and conditions mentioned herein and terms and conditions specified in the Buyer s Agreement, the terms and conditions specified in the Buyer s Agreement, shall supersede the terms and conditions as set out herein 34) That for all intents and purposes and for the purpose of the terms and conditions set out herein, singular includes plural and masculine includes the feminine gender. 35) All or any dispute arising out of or touching upon or in relation to the terms of this provisional allotment letter or its termination, including the interpretation and validity thereof and the respective rights and obligations of, the Parties shall be settled amicably by mutual discussion, failing which the same shall be settled through arbitration. The arbitration proceedings shall be governed by the Arbitration & Conciliation Act, 1996, or any statutory amendments, modifications or re- enactment thereof for the time being in force. A Sole Arbitrator, who shall be nominated by the Company s Managing Director, shall hold the arbitration proceedings at New Delhi. The Applicant hereby confirms that he shall have no objection to such appointment even if the person so appointed, as the Arbitrator, is an employee or advocate of the Company or is otherwise connected with the Company and the Applicant confirms that notwithstanding such relationship/connection, the Applicant shall have no doubts as to the independence or impartiality of the said Arbitrator and shall not challenge the same. The Courts at New Delhi alone and the Delhi High Court at New Delhi alone shall have the jurisdiction in all matters arising out of/touching and/or concerning this application and/or Plot Buyers Agreement regardless of the place of execution of this application which is deemed to be at New Delhi Date: 1. Place 2. Signature of the Customer

26